Dudley pre-tax profits hit £1.3m

Jeremy Wood Dudley Building Society

Dudley Building Society saw its annual pre-tax profits to April 2016 rise by £448,000 to £1.3m.

The lender’s total assets rose to more than £350m, while mortgage lending rose to £57.4m from £52.2m the year before.

The results mean the society is now the largest it has ever been, according to Dudley chief executive Jeremy Wood.

Wood says: “This year has seen us update our lending policies, introduce new products and improve service standards while continuing to concentrate on building our lending relationships with the intermediary sector, which we wholeheartedly support.

“Our wider strategy has been to champion improved lending conditions for groups of potential borrowers who have found it hard to gain access to lending.”